Ultrasound Image Analysis Software Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.99 Billion |
| Market Size (2029) | USD 1.41 Billion |
| CAGR (2024 - 2029) | 7.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Ultrasound Image Analysis Software Market Analysis
The Ultrasound Image Analysis Software Market size is estimated at USD 0.99 billion in 2024, and is expected to reach USD 1.41 billion by 2029, growing at a CAGR of 7.30% during the forecast period (2024-2029).
Technological advancements in ultrasound imaging and the increasing burden of chronic diseases globally are key factors propelling the market's growth.
The increasing prevalence of chronic diseases such as liver diseases and cardiovascular diseases is propelling the growth of the market. According to a report published by the American Liver Foundation in September 2023, over 100 million individuals in the US were affected by some form of liver disease. Among these, 4.5 million adults (1.8%) received a formal diagnosis. However, an estimated 80-100 million US adults are believed to have fatty liver disease, with many remaining undiagnosed. The rising prevalence of undiagnosed liver conditions is driving the demand for advanced diagnostic tools, fostering the adoption of ultrasound image analysis software to enhance early detection and management.
According to an article published in Diagnostics in July 2023, the prevalence of chronic venous disease in France was 40% in women and 17% in men in 2022, with symptoms of sufficient severity to impair quality of life. Hence, the significant prevalence of cardiovascular diseases is expected to drive the market over the forecast period.
Technological advancements and new product launches are boosting the demand for ultrasound image analysis software. For instance, in February 2024, UltraSight partnered with SELVAS Healthcare with innovative medical device manufacturing and software technology. This joint venture kicked off the introduction of UltraSight's real-time AI guidance technology in Asia.
In November 2022, FUJIFILM India expanded its portfolio of ultrasound image analysis software during the 75th National Conference of the Indian Radiological and Imaging Association (IRIA). The expansion of advanced imaging solutions accelerates the adoption of ultrasound image analysis software by enhancing diagnostic capabilities and increasing demand for precision tools in medical imaging.
Therefore, the increasing prevalence of chronic diseases and rapid technological advancements in imaging solutions are driving the demand for ultrasound image analysis software, enhancing diagnostic accuracy and supporting early disease detection.
However, the need for more skilled professionals in the healthcare IT sector and the high cost of analysis software are the major factors restraining the market's growth.
Ultrasound Image Analysis Software Market Trends
The Oncology Segment is Expected to Witness Significant Growth Over the Forecast Period
Physicians use ultrasound to look for cancers in parts of the body that are difficult to see on X-rays. Doctors frequently use this technique to guide a needle during a biopsy. The use of ultrasound in oncology has been growing recently, which is expected to boost the segment's growth.
The rising burden of cancer globally is the major factor driving the segment's growth. For instance, according to the report published by the World Health Organization in February 2024, in 2022, lung cancer was the most commonly occurring cancer worldwide, with 2.5 million new cases, accounting for 12.4% of the total new cases. Thus, the increase in lung cancer cases significantly contributes to the growth of the segment.
The increasing use of ultrasound in oncology is propelling segmental growth. For instance, in November 2022, See-Mode Technologies received approval from Health Canada for its software product that supports breast and thyroid ultrasound examinations.
In May 2022, UVA Health and the Focused Ultrasound Center in Charlottesville informed the opening of the Focused Ultrasound Cancer Immunotherapy Center, one of the first facilities in the world devoted solely to the advancement of focused ultrasound and a cancer immunotherapy treatment strategy with the potential to revolutionize modern cancer care. The establishment of a dedicated center for focused ultrasound and cancer immunotherapy is accelerating advancements in image-guided therapy techniques, thereby increasing the demand for sophisticated ultrasound image analysis software to enhance precision and outcomes in cancer care.
Therefore, with the factors mentioned above, such as the increasing burden of cancer and the growing significance of ultrasound in oncology, the segment is expected to witness substantial growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is anticipated to hold a significant share of the market due to the rising prevalence of chronic diseases and the technological innovations by companies in the region.
The growing burden of chronic diseases such as cardiovascular diseases contributes to market growth in countries like the United States and Canada. For instance, according to the data updated by the Centers for Disease Control and Prevention in May 2023, every 40 seconds, a heart attack occurs in the United States. Also, about 805 Thousand Americans experience a heart attack each year. Hence, the rising burden of cardiovascular diseases in the coming years will increase the demand for ultrasound image analysis software, boosting market growth over the forecast period.
Similarly, according to a report published by Diabetology & Metabolic Syndrome in December 2023, the prevalence of cardiovascular disease (CVD) was 36.9%, and atherosclerotic CVD was 29.5% in Mexico in 2022. Additionally, the prevalence of coronary heart disease, heart failure, peripheral arterial disease, and cerebrovascular disease was 23.1%, 8.4%, 5.0%, and 3.9%, respectively, in Mexico in 2022. The rising prevalence of cardiovascular diseases in the region is expected to propel the growth of the market in North America.
Key players in the market are working on introducing novel growth strategies to cater to the rising demand for ultrasound software. For instance, in April 2024, the Food and Drug Administration (FDA) granted 510(k) clearance for the Us2.v2 software (Us2.ai), which provides 45 automated parameters for adjunctive assessment of echocardiographic images and a boost for streamlining cardiac ultrasound workflows.
In July 2024, GE Healthcare completed the acquisition of Intelligent Ultrasound Group's clinical AI software division for around USD 51 million. This acquisition will provide GE with AI-powered image analysis tools, which will be integrated into its existing ultrasound product line.
Similarly, in March 2024, GE HealthCare accelerated AI innovation by leveraging healthcare-specific foundation models powered by NVIDIA technology. The SonoSAMTrack demonstrated flexibility and effectiveness in ultrasound image segmentation, consistently achieving high-quality results across various complex datasets and conditions.
Hence, with the launch of advanced ultrasound software with cutting-edge technologies, the market for ultrasound image analysis software is expected to grow substantially over the forecast period.
Therefore, with the rising burden of chronic diseases in North American countries and novel growth strategies by key players, the market is expected to grow significantly over the forecast period.
Ultrasound Image Analysis Software Industry Overview
The market for ultrasound imaging analysis software is semi-consolidated. With technological advancements and quality service provisions, mid-sized to small companies are increasing their market presence by introducing new services. Some of the major players in the market include GE Healthcare, Koninklijke Philips NV, Siemens Healthcare, Esaote SpA, and Agfa Healthcare.
Ultrasound Image Analysis Software Market Leaders
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Koninklijke Philips N.V.
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Esaote SpA
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GE Healthcare
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Siemens Healthcare
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Agfa Healthcare
*Disclaimer: Major Players sorted in no particular order
Ultrasound Image Analysis Software Market News
- April 2024: Intelligent Ultrasound Group PLC informed that SonoLyst software developed by GE Healthcare Technologies Inc. launched Intelligent Ultrasound's new portfolio of ultrasound machines. The company launched the software for the new Voulson Signature Series portfolio of ultrasound machines.
- April 2024: GE HealthCare (GEHC) launched an AI software called Caption AI for cardiac assessments using its Vscan Air SL handheld ultrasound scanners. The software includes an AutoEF feature that automatically calculates ejection fraction, which can save clinicians time, as well as AutoCapture and Save Best Clip features for acquiring images.
Ultrasound Image Analysis Software Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Chronic Diseases
4.2.2 Technological Advancements in Ultrasound Imaging
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals Coupled With High Cost of Analysis Software
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Integrated Sofwtare
5.1.2 Standalone Software
5.2 By Product
5.2.1 2D Ultrasound
5.2.2 3D/4D Ultrasound
5.2.3 Doppler Ultrasound
5.3 By Application
5.3.1 Orthopedic
5.3.2 Dental
5.3.3 Oncology
5.3.4 Obstetrics and Gynecology
5.3.5 Nephrology and Urology
5.3.6 Others (Radiology and Cardiology)
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Agfa Healthcare
6.1.2 Canon Inc.
6.1.3 Esaote SpA
6.1.4 GE Healthcare
6.1.5 Image Analysis Group
6.1.6 Infervision
6.1.7 Koninklijke Philips NV
6.1.8 Merative
6.1.9 MIM Software
6.1.10 Neusoft Corporation
6.1.11 Siemens Healthcare
6.1.12 Talan Group (Coexya Group)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Ultrasound Image Analysis Software Industry Segmentation
Image analysis software, also known as image recognition or computer vision, processes images to extract details using artificial intelligence.
The market for ultrasound image analysis software is segmented by type, product, application, and geography. By type segment, the market is further segmented into integrated software and standalone software. By product segment, the market is further segmented into 2D ultrasound, 3D/4D ultrasound, and Doppler ultrasound. The application segment is further segmented into orthopedic, dental, oncology, obstetrics and gynecology, nephrology and urology, and others. The others segment is further segmented into radiology and cardiology. The geography segment is further segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD) for all the above segments.
| By Type | |
| Integrated Sofwtare | |
| Standalone Software |
| By Product | |
| 2D Ultrasound | |
| 3D/4D Ultrasound | |
| Doppler Ultrasound |
| By Application | |
| Orthopedic | |
| Dental | |
| Oncology | |
| Obstetrics and Gynecology | |
| Nephrology and Urology | |
| Others (Radiology and Cardiology) |
| Geography | ||||||||
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Ultrasound Image Analysis Software Market Research FAQs
How big is the Ultrasound Image Analysis Software Market?
The Ultrasound Image Analysis Software Market size is expected to reach USD 0.99 billion in 2024 and grow at a CAGR of 7.30% to reach USD 1.41 billion by 2029.
What is the current Ultrasound Image Analysis Software Market size?
In 2024, the Ultrasound Image Analysis Software Market size is expected to reach USD 0.99 billion.
Who are the key players in Ultrasound Image Analysis Software Market?
Koninklijke Philips N.V., Esaote SpA, GE Healthcare, Siemens Healthcare and Agfa Healthcare are the major companies operating in the Ultrasound Image Analysis Software Market.
Which is the fastest growing region in Ultrasound Image Analysis Software Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ultrasound Image Analysis Software Market?
In 2024, the North America accounts for the largest market share in Ultrasound Image Analysis Software Market.
What years does this Ultrasound Image Analysis Software Market cover, and what was the market size in 2023?
In 2023, the Ultrasound Image Analysis Software Market size was estimated at USD 0.92 billion. The report covers the Ultrasound Image Analysis Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ultrasound Image Analysis Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ultrasound Image Analysis Software Industry Report
Statistics for the 2024 Ultrasound Image Analysis Software market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ultrasound Image Analysis Software analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
